Wall Street brokerages expect Cigna Corp (NYSE:CI) to report $3.73 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Cigna’s earnings, with the highest EPS estimate coming in at $4.20 and the lowest estimate coming in at $3.59. Cigna posted earnings per share of $3.89 in the same quarter last year, which suggests a negative year-over-year growth rate of 4.1%. The firm is expected to report its next earnings results before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that Cigna will report full-year earnings of $16.52 per share for the current financial year, with EPS estimates ranging from $16.40 to $16.65. For the next year, analysts expect that the firm will post earnings of $18.58 per share, with EPS estimates ranging from $18.15 to $18.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Cigna.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $3.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.16. The firm had revenue of $33.43 billion for the quarter, compared to analysts’ expectations of $32.79 billion. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The business’s quarterly revenue was up 192.9% on a year-over-year basis. During the same quarter last year, the company posted $4.11 EPS.
Several research firms have recently weighed in on CI. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a research report on Friday, July 12th. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. UBS Group set a $36.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $75.00 target price on shares of Emergent Biosolutions in a report on Sunday, April 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. Cigna currently has an average rating of “Buy” and a consensus price target of $217.40.
Institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Cigna during the 4th quarter valued at about $737,238,000. Macquarie Group Ltd. lifted its position in Cigna by 1,413.5% during the 4th quarter. Macquarie Group Ltd. now owns 3,711,240 shares of the health services provider’s stock valued at $704,890,000 after acquiring an additional 3,466,030 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Cigna by 179.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock valued at $846,447,000 after acquiring an additional 2,860,291 shares during the period. FMR LLC lifted its position in Cigna by 21.6% during the 1st quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock valued at $1,966,710,000 after acquiring an additional 2,171,463 shares during the period. Finally, Geode Capital Management LLC lifted its position in Cigna by 61.3% during the 4th quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock valued at $936,405,000 after acquiring an additional 1,876,556 shares during the period. 87.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cigna stock traded up $0.50 on Friday, hitting $167.05. 30,589 shares of the company traded hands, compared to its average volume of 2,075,712. The company’s 50-day simple moving average is $164.28. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $64.99 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.89 and a beta of 0.71. Cigna has a 12-month low of $141.95 and a 12-month high of $226.60.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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